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Listed by:NextHome Preview Properties • Melissa Pilcher
$ 1,250,000
Est. payment | /mo
0.52 Acres Lot
$ 1,250,000
Est. payment | /mo
0.52 Acres Lot
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Mount Vernon
MLS Listing ID 2555069
Style 60 - Comm Bldg Und 10K
HOA Fees $250/ann
Year Built 1985
Annual Tax Amount $12,840
Lot Size 0.520 Acres
Property Sub-Type Commercial Industrial
Property Description
New Price! Located on College Way with easy access to an open parking lot. This well-maintained investment property offers stable cash flow with established, long-term tenants with lease terms extended, providing investors with dependable income and reduced leasing risk. The building has been used as a Real Estate office and Mortgage company since 1999. At a 7.5% capitalization rate, this property is ideal for investors seeking a passive commercial real estate investment or 1031 exchange replacement property. The property's strong occupancy history and reliable tenancy create an excellent opportunity for both experienced and first-time commercial investors. Situated on College Way the property has great exposure with approximately 20,000 vehicles driving by daily. Its strategic location enhances tenant retention while providing excellent accessibility for employees and clients alike. Whether you're looking to expand your portfolio with an income-producing office building, secure a commercial investment property in Mount Vernon, or complete a 1031 exchange, this offers the stability, cash flow, and long-term value investors seek. Offices are beautifully updated and parking lot was recently repaved and striped.
Location
State WA
County Skagit
Area 835 - Mount Vernon
Interior
Flooring Laminate, Stone, Carpet
Fireplace false
Exterior
Exterior Feature Stucco
Roof Type Torch Down
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
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